South Korean battery materials maker L&F signed a long-term contract worth about 1.035 trillion won ($710 million) to supply lithium iron phosphate (LFP) cathode materials to LG Energy Solution from 2028 through 2031. L&F will build a new plant for the agreement, expanding a partnership that previously covered only high-nickel nickel-cobalt-manganese (NCM) cathodes. The deal adds to L&F's LFP contracts with Samsung SDI and SK On, as well as a supply agreement with U.S. battery technology company Coreshell. L&F said rising energy-storage-system demand, including from artificial intelligence data centers, and tighter U.S. Non-PFE requirements are increasing the importance of non-Chinese supply chains. Its L&F Plus subsidiary began mass-producing LFP cathode materials at an annual capacity of 30,000 tons in late September and plans to reach 60,000 tons by the first half of 2027.